Thread: Letter before action! Help I'm scared!

Ok RBS have just sent me a letter offering £443 as an offer of goodwill. The amount I am claiming is £1040. The letter states that the bank believes the charges are fair and they are satisfied they comply 'with applicable laws and regulations.' After looking at the forum a few times I believe the next course of action is letter before action- is this where I ask for the whole amount agian and do I have to nenclose another schedule of charges? Any help much appreciated

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No it was after the second letter- preliminary approach- I enclosed the schedule with that letter

Yes it was the SAR letter- enclosing cheque for £10

Originally Posted by livelylad

You ask for the amount again not including interest. Also you do not have to enclose a Schedule of charges. I think some more reading of the faqs and step by step instructions is required.

http://www.consumeractiongroup.co.uk...re-action.html

I have just read through everything as you said- do I accept the amount they have offered and send a l.b.a as well? This is a bit unclear in the step by step instructions as it says to accept the offer but still send a l.b.a if they haven't offered a full refund. How do I do both?
Many thanks

The 14 days are up from my letter before action. Disappointed that I haven't heard back from RBS but not really shocked. Should I phone the bank directly before filing action in court?

ok thanks for the advise I will just go ahead with the claim. Just hope that it proves to be fruitful!!

Good Luck bluerach811, I am about 3 steps behind you. I think you will have to take these guys to the wire before they will pay up in full.

StyX

Thanks! I can't believe it really- my friend has done exactly the same things as me with Halifax and they settled in abount 5 working days.

It's jsut typical of me that I'll go to court but I'm quite happy to as I think RBS have a lot to answer for! Anyway I'll keep posting so that people can see the progress. Good luck with yours too Styx!

I am still waiting for my list of charges, i am hoping that the amount will be around 1500, so i can close off my overdraft. I think it will be most like 1000 than 1500. Either way a larger step closer to closing off my account.

By the way did you include interest?

StyX

No haven't included interest as its a student account- now a graduate account so my overdraft was ineterst free for 3 years. It would have been paid off by now had I not been charged!!

I mean the 8% you would most likely be awarded if this goes to the court, i.e. the interest you would have earned if you still had the money in an average account.

StyX

o right no i haven't actually done that yet. Am i supposed to do that before starting claim? I've read through just about everything on this site but still manage to miss things!!

I know what you mean. There is soo much to read.

I have been looking at how to calculate this recommended 8%. No idea how to work out the compound interest...

Anyways, excel has become my friend, took me a wee while to work out that. 8% x charge x days since charge / 365.

There are spreadsheets on this site to help out.

I too have a student account and my graduate scheme is only 12 months. I feel robbed

StyX

Right need to look at that then! I think I'm going to phone the bank tomorrow anyway just to see where they stand at the mo. I'll definitely do the 8% spreadsheet then- if I'm going to court anyway!

RBS have most definitley lost out, I started my first graduate job about 6 months ago and my wages are paid into my HSBC account!